Verleger Says Futures Market Is Fuelling Spot Price Volatility 

There can be little doubt that in the last year and a half prices in the spot oil market have become increasingly volatile. And although the development of the crude futures market should in theory contribute to price stability, in the case of crude oil its effect has been the opposite, according to Philip K Verleger Jr. of Charles River Associates (CRA) of Boston.

Writing in the 12 February issue of...